Here’s our lowest rate. So you can start living in your new home with the ATB Rate First Mortgage.
Key product details
|5 years only, closed fixed-rate
|25 years for high ratio and conventional mortgages
| High ratio closed fixed rate: 4.99%
Conventional close fixed rate: 5.49%
| High ratio mortgages*: 5-20%
Conventional mortgages: >20%
|Choose from monthly, semi-monthly, bi-weekly or weekly payments
| Principal prepayments of up to 10% of the original mortgage amount per year
Increase regular payments by up to 10% per year
Frequently asked questions
You may increase your current payment up to a maximum of 10% per year, based on your current payment.
The ATB Rate First Mortgage allows for principal prepayments of up to 10% of the original mortgage balance per year. If you go over this amount a prepayment penalty is accrued.
Contact us to learn more about mortgages with 20% prepayment options.
No. The Rate First Mortgage is available as a new mortgage on Alberta properties only.
No. The ATB Rate First Mortgage is only available for new mortgages. However, we have renewal specialists that will review your options with you, including any special rates that you may be eligible for.
It certainly may be the best time to buy. If you’ve saved enough and found your desired neighbourhood, then you’re well on your way to buying a new home with the ATB Rate First Mortgage.
Yes, the ATB Rate First Mortgage offers our lowest rate possible on a new mortgage. It makes it the best time to become a first-time buyer in Alberta.
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*A high ratio mortgage includes mortgage default insurance. In Canada, it’s mandatory to purchase mortgage default insurance if you’re putting down less than 20% toward the purchase of your home (between 5% and 19.99%). The high ratio rate is only available on insured mortgages for residential property valued at under $1,000,000, for clients who have put less than 20% down, and are eligible for (and purchase) mortgage default insurance, as well as meet other conditions.